The Chart of the Day belongs to Summit State Bank (SSBI). I found the commercial bank stock by using Barchart to sort today's All Time High list first for the most frequent number of new highs in the last month, then again for technical buy signal of 80% or more. Since the Trend Spotter signaled a buy on 2/7 the stock gained 8.39% .
Summit State Bank has total assets of $334 million and total equity of $48 million at March 31, 2008. The Bank provides diverse financial products and services which are marketed throughout Sonoma County, California and surrounding areas, with offices located in Santa Rosa, Rohnert Park, Petaluma and Windsor. Summit State Bank stock is traded on the Nasdaq Global Market under the symbol SSBI.
The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
Barchart technical indicators:
- 100% technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 15 new highs and up 13.31% in the last month
- Relative Strength Index 75.47%
- Technical support level at 16.97
- Recently traded at 17.45 with a 50 day moving average of 15.12
Fundamental factors:
- Market Cap $79.4 million
- P/E 16.02
- The only Wall Street analyst following the stock rated it a hold but makes no projections
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